Gildan Activewear (NYSE:GIL) (TSE:GIL) had its price objective cut by stock analysts at Royal Bank of Canada from $36.00 to $30.00 in a research report issued on Friday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the textile maker’s stock. Royal Bank of Canada’s price target indicates a potential upside of 14.16% from the stock’s current price.
Several other analysts have also recently issued reports on GIL. ValuEngine cut Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Desjardins cut Gildan Activewear from a “buy” rating to a “sell” rating in a research report on Friday. Stifel Nicolaus cut Gildan Activewear from a “buy” rating to a “hold” rating and cut their target price for the stock from $44.00 to $30.00 in a research report on Friday. Citigroup raised their price target on Gildan Activewear from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Bank of America cut Gildan Activewear from a “buy” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Friday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $32.55.
NYSE:GIL opened at $26.28 on Friday. The company has a current ratio of 4.33, a quick ratio of 1.68 and a debt-to-equity ratio of 0.55. Gildan Activewear has a 12-month low of $23.45 and a 12-month high of $40.40. The stock has a 50-day moving average price of $35.73 and a 200 day moving average price of $37.20. The stock has a market capitalization of $7.21 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.22 and a beta of 0.85.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.02. Gildan Activewear had a return on equity of 18.48% and a net margin of 10.14%. The firm had revenue of $801.60 million during the quarter, compared to analysts’ expectations of $793.91 million. During the same quarter last year, the business posted $0.52 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that Gildan Activewear will post 1.98 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Gildan Activewear by 19.3% during the 1st quarter. FMR LLC now owns 9,830,993 shares of the textile maker’s stock valued at $353,485,000 after buying an additional 1,589,389 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Gildan Activewear by 0.4% during the 2nd quarter. Janus Henderson Group PLC now owns 9,713,799 shares of the textile maker’s stock valued at $375,748,000 after buying an additional 36,796 shares in the last quarter. Vanguard Group Inc. grew its holdings in Gildan Activewear by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,745,356 shares of the textile maker’s stock valued at $222,230,000 after buying an additional 159,519 shares in the last quarter. Royal Bank of Canada grew its holdings in Gildan Activewear by 9.6% during the 2nd quarter. Royal Bank of Canada now owns 5,569,834 shares of the textile maker’s stock valued at $215,443,000 after buying an additional 489,075 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in Gildan Activewear by 46.6% during the 2nd quarter. APG Asset Management N.V. now owns 1,068,000 shares of the textile maker’s stock valued at $36,373,000 after buying an additional 339,600 shares in the last quarter. Institutional investors and hedge funds own 67.01% of the company’s stock.
About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
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